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One of the first things to go when the economy started declining last year was spending on travel. Many hotels, airlines, cruise lines and others focused on the travel industry, especially the leisure travel segment, saw sales drop sharply in 2008.
Online travel company Expedia was among those affected. In February, the company reported that revenue for the fourth quarter were down nearly 7 percent and that gross bookings were down 11 percent. Expedia’s stock declined more than 70 percent in 2008.
But not everyone has cut back on travel because of the economy.
Take Barry Diller, Expedia’s chairman and senior executive. His tab for the personal use of the company’s corporate aircraft was up nearly 50 percent in 2008, according to the company’s proxy. In 2007, Expedia reported that Mr. Diller spent $521,302 on personal use of the jet, compared with $769,745 in 2008.
But the real number is actually significantly higher. As the company notes in the filing, Mr. Diller has senior roles at both Expedia and at IAC/InterActiveCorp, which files its own proxy and where Mr. Diller is chairman and chief executive.
IAC’s proxy, filed last July, showed that Mr. Diller’s tab for personal use of the corporate jet was $693,202, up from $517,214 in 2007.
Expedia was spun off by IAC in August 2005 and, as both proxies note, the two companies each own a 50 percent stake in a corporate jet.
– Michelle Leder, who runs the Web site footnoted.org, is keeping an eye on corporate perks disclosed in regulatory filings this proxy season. Some of her discoveries are appearing exclusively on DealBook for a special feature called “Perks Watch.”
Apple’s chief executive, Timothy D. Cook, was testifying about how the company was able to avoid billions of dollars in taxes.
Jamie Dimon held onto his title of chairman after JPMorgan’s shareholders defeated a proposal to split the chairman and chief executive role.
As Apple faced criticism in Washington for not paying more in taxes, Ireland defended its low rates, instead blaming “loopholes” in other European countries for enabling companies to avoid taxation.
Poland, pushed by E.U. directives to change the way it deals with waste, is adopting a Canadian technology that allows energy to be created through the burning of trash.
There are affordable ways to live more safely in tornado zones.
Romania has built a reputation as a prime location for green energy projects. But as it prepares to cut subsidies, the country is sending discouraging signals to foreign investors.
A day after Yahoo’s board approved a deal to acquire Tumblr, Marissa Mayer, Yahoo’s chief, and David Karp, Tumblr’s founder, reassured users that Tumblr would operate as it did before.
Courts are looking to Urban Dictionary, a crowdsourced Web site, as one way to define words on which a case may turn.
Daylight and a hovering helicopter allowed cable news channels to bring startling images of the mile-wide tornado in Oklahoma to viewers on Monday.
A federal judge’s ruling could halt the resale of digital music as well as other digital good like e-books.
A world-renowned physicist meets a gorgeous model online. They plan their perfect life together. But first, she asks, would he be so kind as to deliver a special package to her?
The Winklevoss brothers have moved on from their battle with Mark Zuckerberg and are more active than ever.
While a recent article by Angelina Jolie about her mastectomy and reconstruction raised awareness, it may have left the impression that the surgeries are quick and easy procedures, some doctors fear.
Some parents have been worried about giving their children pain relievers like ibuprofen and acetaminophen, based on reports that children who are given the drugs are more likely to develop asthma. But a new study suggests that the relationship may be little more than a statistical oversight.
Although most attention is focused on the safety of infants and toddlers, their sudden jabs, bites, head-butts and kicks can inflict injuries on parents and other caregivers.
To understand Yahoo’s acquisition of Tumblr, consider Yahoo’s deal for GeoCities in 1999. | For technology deal makers, business is booming. | SAC Capital Advisors is bracing for another round of withdrawal requests. | Apple avoided billions in taxes in the United States and around the world, Congressional investigators disclosed.
Sign up for the DealBook Newsletter, delivered every morning and afternoon, and receive breaking news alerts throughout the day.


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Midway through October digital payment platform, PayPal entered into talks with online photo-sharing platform, Pinterest, regarding an acquisition. But why? At first glance, there’s no doubt the two companies seem unlikely partners, and it is difficult to imagine how the functionality of each would add value to the other.
Pinterest, at its core, is a network that allows users to submit photographs as well as links to recipes, crafts, home decor ideas, and the like. The platform is also known within the world of teachers where it is widely used as a valuable means of sharing lesson plan ideas and classroom activities.
In terms of monetizing the content on the platform, as of right now, if users were to buy a recipe or subscribe to a blog where they encountered the perfect set of plans for a craft idea, they would do so on the host site. Users would have to navigate to this host site through the brand’s Pinterest presence – the graphics it posted to the platform, which more than likely are backlinked somewhere that accepts payment.
It does seem strategic, then, for Pinterest to adopt PayPal functionality that allows for the teacher using the platform to generate curricular materials to purchase those materials directly on Pinterest rather than off-site on Teachers Pay Teachers or whatever company is responsible for the Pinterest post. In this way, the platform (Pinterest) could cash in on a small portion of that transaction as is the model for so many digitally native businesses.
Facebook, in fact, is a nice example of what is possible. The social media conglomerate upped its Marketplace game, extending the service from a more aesthetically Craigslist where users conduct the details of a purchase or sale on the platform and complete the actual transaction off-site, to something that looks a little more like eCommerce.
Nowadays, within the Facebook marketplace, users can make purchases within the digital payment service included within the app or desktop platform, which in theory issues payment directly to the seller.
This has opened things up quite a bit as buyers can now make purchases of items listed out of state as long as the seller specifies their willingness to ship.
The sellers that remain when the toggle switch is set to Shipping Only operate almost like Amazon marketplace sellers. In fact, it is likely that some sellers are on both sites.
Using the Facebook model as a barometer for potential success, it’s easy to see how the digital payment capabilities could benefit the Pinterest platform. That being said, two major uncertainties come to mind:
- Is the revamped Facebook marketplace providing that much more value for the company than the initial version – which looked and felt a bit more like online classified ads than a digital marketplace?
- Is this the only possibility for the PayPal/Pinterest merger, and how much does PayPal stand to benefit from being the sole provider of digital payment services on a commerce platform whose listings would look an awful lot like Etsy’s?
Side note: what happens to all the Etsy content on Pinterest? Or any backlinking for that matter?
Regardless, PayPal shareholders seemed to have similar questions/apprehensions, though perhaps for different reasons. PayPal’s share price responded coolly to reports of a prospective deal, sending the stock down more than 6%.
Still, many experts still believe, if the two companies do end up hammering out a deal, it will be significant given Pinterest has a market value of almost $40 billion. The company went public in 2019, and its shares have fluctuated over the last year as its performance has been mixed. A Pinterest deal would be one of the largest mergers of the year, at a time when deal activity is at an all-time high with PayPal boldly running into the breach, drawing up as many new deals as it can swing. Just last month, in fact, PayPal agreed to purchase Japanese buy-now-pay-later company Paidy Inc. for around $2.7 billion.
No doubt, the cost of Pinterest would be much greater, and the company operates in a vastly different business. It has, after all, become something of a “social shopping” platform, similar to Instagram and TikTok in this way, which have certainly experienced success as a result of leveraging Swipe Up/Shop Now call to action. Where Pinterest distinguishes itself in the way users are able to build mood boards for weddings, man caves, and latte art for example, all from posts linked to marketable goods and services.
And still, we are (at the time of writing) a little confused as to the response of PayPal’s share price to the deal. This year, social site shopping in the United States is predicted to increase 36% to $36 billion. PayPal’s interest in Pinterest comes at a time when product discovery and purchasing are migrating to social platforms like Instagram and TikTok. And let’s not forget, PayPal still hasn’t integrated with Venmo, which it bought in 2013. If PayPal does buy Pinterest, seamless integration would be key to turbocharging its social media ambitions.
Fast forward, no more than a week, and PayPal officially backed down from a planned $40 billion purchase of Pinterest after investors mysteriously objected. The payment company’s stock dropped about 12% in three days after news of a prospective deal broke.
A deal for Pinterest, with a market capitalization of more than $37 billion, would have been one of PayPal’s biggest ever. It did eventually surface that PayPal’s plan for Pinterest was mostly in line with our assumptions. The payment service would link Pinterest users to businesses and collect a percentage of their buying dollars.
At the time of the deal, Pinterest was making the majority of its money the old fashion way for social media – through ads and the data it could provide marketers regarding users.
Prior to the deal flop, PayPal CEO Dan Schulman said at an investor day presentation that the company wants to nearly double Pinterest’s active users to 750 million in five years. This might boost payment volume, and PayPal would be able to charge retailers for access to their increasing consumer bases.
But, at least for now, the opportunity for a mutually beneficial merger is just spilled milk – no sense in crying, and at least for a time, shareholders, and even some more casual traders, got to enjoy the momentary volatility of the two company’s share prices.
Still, we would not be surprised if this deal or one like it popped back into the zeitgeist in the not-so-distant future – perhaps between Pinterest and another payment platform, like Novi, for instance. Novi is Facebook’s new digital wallet business, which will go live in a trial program in the US and Guatemala. Users may purchase USDP using Novi and Novi will deposit the money with Coinbase. Meanwhile, expect PayPal to continue searching for the right partner with similar social shopping potential – this time, one that shareholders approve of.

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Google revealed the Nexus 7 tablet yesterday at Google I/O 2012, and announced the price, a vague release date, preordering information and more.
Google’s new tablet will start at $199. That puts it in direct competition with Amazon’s Kindle Fire. There are rumors that Amazon will have a next-gen Fire out next month. Looks like the two new tablets may duke it out over the summer months.
For a 7 inch, $199, tablet, the Nexus 7 comes with a pretty strong set of specs. It won’t outcompete the larger and more expensive iPad, but it does stand up well in comparison to the current Kindle Fire.
The Nexus 7, manufactured by Asus, has a Nvidia Tegra 3 quad-core processor (it’s the only 7 inch tablet with a quad-core processor) and 1 GB of RAM. The $199 version has 8GB of onboard storage. For another $50, shoppers will be able to buy an upgraded version with 16GB of storage. For graphics processing, the Nexus 7 has a 12-core Nvidia GPU. The screen has 1280-by-800 pixel resolution. The tablet includes a 1.2 megapixel front facing camera. It connects via Wi-Fi and features mini HDMI, Micro USB, and Ethernet ports.
Along with the tablet, Google also announced the release of Android 4.1, and the Nexus 7 will come with the new OS on board. What’s new with 4.1, aka: Jelly Bean? Mostly it’s an update to the Android 4.0 user interface, but also includes a variety of tweaks and updates. While we haven’t experienced it yet, we’ve been told the voice recognition and a search are big improvements over what was available in 4.0.
Google is taking preorders for the device on the Google Play store. The shipping/release date is a somewhat vague “2 – 3 weeks,” according to Google. Guess we can safely say sometime toward the middle of July,
Google also states that, for a limited time, the Nexus 7 comes with a $25 credit to the Google Play store and free content, such as Transformers: Dark of the Moon.


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Awards Celebrate Southern Craftsmanship in Home, Crafts, Food, Outdoors, Style, and Drink
The official call for entries for Garden & Gun’s fourteenth annual Made in the South Awards is open through June 20.
The magazine is seeking Southern-made product entries in six categories: Home, Crafts, Food, Outdoors, Style, and Drink. The overall winner receives a $10,000 cash prize and is prominently featured alongside the other category winners and runners-up in the magazine’s December 2023/January 2024 issue, which hits newsstands in November 2023.
Additionally, for the second year, the Made in the South Awards program will feature a Sustainability Award, given to an artist or innovator leading the way with a noteworthy product, responsible production, conservation awareness, and locally driven production. G&G has incorporated this important element into the competition to highlight and advocate for conservation in the South and beyond.
Garden & Gun created the Made in the South Awards in 2010 to celebrate and encourage Southern craftsmanship, and to recognize the best Southern-made products on the market. The recognition has proven to make an impact on the growth of small businesses that have been honored in every category.
Testimony from the 2022 MITSA overall winner: “Winning the Made in the South Awards has significantly increased sales of the Warren cabinet, but more importantly has helped me reach a much larger client base across the South. It has been a fantastic affirmation of creativity and the desire to conceive something that’s unconventional at first but feels right at home when finished.” —Elijah Leed, owner of Elijah Leed Studio (Durhan, NC)
The Made in the South Awards judges are industry experts from across the country selected by G&G’s editorial team. The 2023 judges are:
Stephanie Summerson Hall (Summerville, SC)
Mariana Barran (Houston, TX)
Joe Kwon and Jason Stanhope (Raleigh, NC and Charleston, SC)
Edward Nickens (Raleigh, NC)
Gogo Ferguson (Cumberland Island, GA)
Kapri Robinson (Washington, D.C.)
All Southern artisans or businesses with a product in one of the six categories (Home, Crafts, Food, Outdoors, Style, and Drink) that will be available for sale through January 2024 may apply.
For entry forms, category descriptions, and rules, visit madeinthesouthawards.com. Entries will be accepted until midnight ET on June 20. Winners will be publicly announced in the December 2023/January 2024 issue of Garden & Gun, which will hit newsstands in November 2023.
To follow along with the Made in the South Awards, use #madeinthesouthawards on Twitter, Facebook, and Instagram, or visit gardenandgun.com.


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The research findings, reported as part of the final results from the EU Food Labelling to Advance Better Education for Life (FLABEL) project, aim to provide guidelines for research, industry and policy-makers in Europe.
The researchers said that whilst nutrition labelling may provide a quick guide to inform consumers on the nutritional value of food products, the use and actual effects on shopping basket composition “have been largely unknown.”
“The FLABEL research shows the most promising option for increasing consumers’ attention to, and use of, nutrition information on food labels, is to provide information on key nutrients and energy on the front of the pack, in a consistent way,” said FLABEL scientific advisor, professor Klaus Grunert, of Aarhus University in Denmark.
“Complementing this information with a health logo can also increase attention to, and use of, the information, especially when the consumer is under time pressure,” he added.
The Danish researcher added that the use of colour coding – such as the use of traffic light labeling – can increase attention and use in certain situations, “although the effects .. are not strong,” he said.
The researchers added that the different formats of labels and logo's already in place - such as the use of nutrition tables, traffic light scheme, guideline daily amounts (GDA), and various health logos - may stimulate different response in consumers.
The project carried out an EU-wide nutrition labelling audit in 84 retail stores. The audit covered more than 37,000 products in five categories; sweet biscuits, breakfast cereals, chilled pre-packed ready meals, carbonated soft drinks, and yoghurts.
The researchers found that 85% of all products carried nutrition information on the back of the pack, whilst 48% carried information on the front of the pack.
The most widespread back of pack format were reported to be tabular or linear listing of calorific value and nutrient composition (84%), while nutrition claims and GDA were the most prevalent forms of front of pack nutrition information (both at 25%).
Grunert and his team explained that when information was provided on key nutrients – such as fat, saturated fat, sugar and salt – and energy, most consumers were able to correctly rank products according to healthiness.
They found that additional information, including health logos, GDA, or traffic lights, only marginally improved accuracy.
Attention and motivation
The team reported that a major issue affecting the impact of nutrition labels on actual food purchases made by consumers was lack of attention to the nutrition information.
The project found that food packages held consumers’ visual attention for very short periods, with the average attention to elements of nutrition labels being between 25 and 100 milliseconds – as measured by sophisticated eye-tracking equipment.
Motivation was a major factor affecting the impact of nutrition labels on the choices made by consumer, said Grunert.
“When prompted, consumers were able to identify which products were healthier, but they did not use this information to choose which product they prefer,” he said.
“A lack of consumer motivation, therefore, is one factor standing in the way of healthy food choices resulting from nutrition labelling.”


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By Steve Gorman LOS ANGELES (Reuters) - A multi-state E. coli outbreak that has sickened at least 19 people who ate rotisserie chicken salad sold at Costco Wholesale Corp's stores has been traced to a celery-and-onion mix used in the salad, prompting its California maker to recall the product. The contaminated chicken in that case was supplied by California-based Foster Poultry Farms.
Ole Miss to demolish site where Faulkner wrote landmark book
OXFORD, Miss. (AP) — Late one night at the University of Mississippi power plant, William Faulkner turned over a wheelbarrow, used it as a makeshift table and began writing the classic novel "As I Lay Dying" — but where in the building did he do it?
U.N. Syria envoy says downing of Russian jet "did not help" peace process
STOCKHOLM (Reuters) - Turkey's downing of a Russian jet near the Syrian border earlier this week risks harming the Syrian peace process, the United Nation's top Syria diplomat said on Friday, speaking in Stockholm. "It certainly did not help... there is a likelihood of it complicating this," U.N. envoy Staffan de Mistura said about political negotiations over peace or a cease fire. NATO member Turkey and Russia have been in a war of words after Turkey's air force shot down a Russian warplane. (Reporting by Alistair Scrutton, Writing by Daniel Dickson; Editing by Simon Johnson)
AARP The Magazine is the world's largest circulation magazine and the definitive lifestyle publication for nearly 40 million members and Americans 50 and over. As America's good-life guide for grownups, the award-winning publication adds value to readers' lives by delivering practical tools and innovative approaches for men and women who want to live their lives to the fullest. AARP The Magazine offers in-depth celebrity interviews, moving profiles, columns written by experts in their fields, features on health and finances, consumer information and how-to tips, and book and movie reviews. AARP Magazine
is dedicated strictly to baby boomers, and will address the challenges of the members of this vast generation and the challenges of the generations to follow. This generation encompasses 75 million adults in their most productive years. The impact of this group on the economy and the nation cannot be disputed. All are joined by an increased social awareness and deep concern for not only their baby boomer generation, but the nation and the world as a whole. The objective of BabyBoomers.com is to unite the Boomers in the same way that AARP has united retirees. The Baby Boomer generation is the generation of today. This is the largest group of consumers in the nation.


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Worthington Industries Inc. completed its acquisition of Tempel Steel Company, a manufacturer of precision motor and transformer laminations for the electrical steel market.
The deal, originally valued around $255 million, expands the Columbus, Ohio-based manufacturer’s steel processing segment in the growing electric vehicle (EV) market.
Tempel Steel, headquartered in Chicago and founded 1945, specializes in electrical steel – highly engineered steel used for the core of electric motors, transformers and generators.
“The addition of Tempel makes us a world leader in the rapidly growing electrical steel market that includes transformers, machine motors and electric vehicle motors,” Worthington President and CEO Andy Rose said. “Tempel expands our sustainable mobility offerings beyond lightweighting and hydrogen to more widely serve the global market for hybrids, EVs and the electricity infrastructure needed to support them. Tempel has a rich history and dedicated workforce and we’re excited to officially welcome them to Worthington.”
Tempel reported sales of $377 million and earnings of $35 million for the 12 months ending Sept. 30. For its most recent fiscal year, Worthington Industries reported sales of $3.2 billion. The transaction, backed largely with existing cash, includes Tempel’s headquarters and five manufacturing facilities located in Chicago, Canada, China, India and Mexico.
By David Schollaert, David@SteelMarketUpdate.com
David SchollaertRead more from David Schollaert
Latest in Steel Mills
Goncalves blames USS for ITC tin products decision, USS fires back
Cleveland-Cliffs CEO Lourenco Goncalves said he blames U.S. Steel’s lack of participation in the tin mill products trade case for an unfavorable US International Trade Commission (ITC) decision.
Nucor slashes plate prices by $90/st
Nucor Corp. announced that its plate mill group would cut prices for as-rolled, discrete, and normalized plate with the opening of its April order book.
USW remains skeptical of USS acquisition despite Nippon’s promises
The United Steelworkers union expressed a lack of trust in assurances from Japan’s Nippon Steel Corp. (NSC) regarding its proposed buy of U.S. Steel.
Biden admin scrutinizing Nippon Steel’s Chinese ops in USS deal: Report
Nippon Steel Corp.’s (NSC) operations in China are a potential security concern of the Biden administration, according to a Bloomberg report citing anonymous sources close to the matter.
Kestenbaum looking at multiple ways to grow Stelco
Alan Kestenbaum, the CEO of Stelco, said the company is actively evaluating ways to grow the company, including both organic and inorganic opportunities.


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Retailers in the U.S. have already started offering Black Friday deals. One of the tech products that people may be looking forward to avail on a discount is the PlayStation 4 gaming console. Sam’s Club is now offering the PS4 gaming console along with a free game for only $299.99.
According to Forbes, the PS4 offer will be available with a discounted price of $299.99 on Sam’s Club on Nov. 14. The sale will start at 7 a.m. and it will last for one day. The information on the deal was revealed through a leaked flyer by an unknown Sam’s Club employee.
The flyer does not mention the size of the hard disk the PS4 will carry. Also, it does not mention the title of the free game that will accompany the gaming console. Hence, it is not known whether the buyer will have the power to choose their own game or avail the free game provided by the retailer. The deal will be available online as well as at retail outlets of Sam’s Club.
One needs to be aware of the fact that the deal is available for customers who have acquired membership at Sam’s Club that comes at a price of $45. As of this writing, there is no official confirmation from Sam’s Club or Sony on the lucrative offer that is scheduled to go live on Nov. 14.
The PlayStation 4 was released in the last quarter of 2014. Since its release, the Japanese tech giant has sold about 30 million PS4 units. Now, the holiday season is approaching, the sales of the PlayStation 4 are expected to skyrocket even more, Game Informer reported.
Microsoft’s Xbox One, the major rival of the PS4, will be offering the gaming console with gaming titles like “Halo: 5 Guardians”, “Forza Motorsport 6”, “Rise of the Tomb Raider” and more for the year end sale. Phil Spencer who heads the Xbox division of Microsoft feels that sales of the Xbox One will not surpass the PlayStation 4 in terms on profits the global level.


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NEW YORK (TheStreet) -- Shares of Rite Aid Corp. (RAD) are down 8.58% to $6.07 in pre-market trade after the retail drugstore chain cut its full-year earnings forecast, saying lower reimbursement rates and increased use of generic drugs will hurt profit, according to Bloomberg.
Net income for fiscal 2015 is expected to be 22 cents to 33 cents a share, the company said. Rite Aid previously forecast 30 cents to 40 cents. Analysts had anticipated 34 cents, according to the average estimate compiled by Bloomberg.
Generic medicines and copycats of drugs that recently lost patent protection will hurt margins in the second half of the year, Rite Aid said. The company also reduced the top end of its full-year sales forecast, saying revenue was now expected to be $26 billion to $26.3 billion. Rite Aid in June had forecast revenue of as much as $26.5 billion.
TheStreet Ratings team rates RITE AID CORP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate RITE AID CORP (RAD) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including deteriorating net income and poor profit margins."


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The company will export its food-service milk product to the country in bag-in-box packages fitted with an innovative tap manufactured by International Dispensing Corporation, which Naarmann will have exclusive rights to import into Pakistan.
The company promises a six-month shelf life for its shipments and will guarantee 10 days of ambient non-refrigerated dispensing with IDC’s The Answer tap. This device promises to serve UHT liquids while maintaining shelf-stability of remaining contents for an extended time period without refrigeration.
The technology is both commercially significant and a global breakthrough for milk preservation and safety, said the family company’s chief executive, Claus Naarmann, citing the breakneck growth of foodservice in the country.
Pakistanis currently consume some 40bn litres of milk a year, most of which is unprocessed and often labelled from open vats into plastic bags.
With limited refrigeration available in its supply chain, Pakistan would benefit especially from the use of large-format aseptic packaging that allows contents to maintain their safety and integrity without chilling for its entire lifespan, Naarmann said.
“Naarmann’s bulk bag-in-box package with The Answer offers not just a cost-competitive solution, but also a unique closed system that is safe, sanitary, and unadulterated.
“The Punjab government’s recent campaign to introduce minimum pasteurisation laws makes the timing excellent,” the chief executive added.
The company will be targeting local foodservice, home-delivery and the large “loose milk” retail segment. It predicts “significant” volumes based on “commercial acceptance”.
“We are very excited about the opportunities that our cost effective packaging solution for high-quality milk will generate in Pakistan, and are gearing up for a long-term presence there,” said Naarman.
“The Answer truly is the answer for dairy safety and quality, especially in markets lacking refrigeration.”
Greg Abbott, chairman and chief executive of the New York-based packaging research and development company, said IDC’s partnership with Naarmann will be “making history” in South Asia.
“We intend to build a robust and flourishing business in Pakistan, to transform this enormous market for the better and make a monumental contribution to food safety,” he added.


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The Vietnam National Administration of Tourism (VNAT) presented a gift and an insignia to Chinese visitor Zhu Ying, the five-millionth foreign visitor of Vietnam this year, who descended at Noi Bai National Airport on the evening of Dec. 24.
She was also offered a package tour of Hue-Da Nang-Hoi An for two people by the Vietnam-Hanoi Tourism Company.
VNAT General Director Nguyen Van Tuan described it as an important event of the tourism sector, affirming the position of Vietnam on the world’s tourism map.
The tourism sector also presented gifts and insignias to two other Chinese tourists, who were the 4,999,999th and 5,000,001st visitor to Vietnam.
The year 2010 is the first year that Vietnam set a record growth of foreign tourists with an increase of 1.2 million people from last year.
The year also sees the highest number of foreign arrivals to Vietnam over the past 20 years.
The achievements were attributable to tourism promotion campaigns launched in 2009 and 2010./.


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Halloween scares up some outrageous prices
By Bruce Horovitz, USA TODAY
Halloween is taking off the mask and putting on the Ritz. So much for penny candy and bobbing for apples. Halloween chic will cost some consumers hundreds — even thousands — of dollars for haunting excesses.
It's about over-the-top hotel promos. Exclusive cruises. Pricey candy. Ritzy pet costumes. And chichi gifts — many with little use after Oct. 31. Spending will top $3.1 billion this year, up from $2.9 billion last year, says the National Retail Federation. The growth is no accident.
"Retailers are pushing and consumers are pulling," says James Lowry, marketing professor at Ball State University. "There is a Halloween chic."
Perhaps nowhere more so than at the Ritz-Carlton Kapalua on Maui. The resort is promoting a three-day weekend "Hedonistic Halloween Hexperience." Cost: $20,000. Included: airfare for two, three nights in the Presidential Suite, a costume concierge and, of course, makeup by a Hollywood makeup artist.
"We did it for the PR," says Joe Velasquez, director of sales, "then someone actually booked it."
Halloween weekend is typically a slow weekend for the hotel. Velasquez is hoping his "over-the-top" Halloween promotion will change that.
Other pricey Halloween options:
•$19 caramel apple. It's a 17-inch-round caramel apple from Williams-Sonoma, sold online and at flagship stores in San Francisco and New York. The Fuji apple weighs 2½ pounds, spokeswoman Nicole Bender says.
•$49 Halloween wreath. Complete with synthetic cobwebs and cast-iron spiders, the spooky, 20-inch-square wreath — to be hung like a Christmas wreath — is made from birch branches and sold at www.potterybarn.com.
•$29 pumpkin pan. Wanna make a pumpkin-shaped cake? Williams-Sonoma has the pan. It sells a $16.50 pumpkin-spice streusel mix, too.
•$1,139 cruise. Royal Caribbean has a seven-night, Halloween cruise to the "Mexican Riviera" — its Pacific Coast — that departs from Los Angeles on Oct. 31.
•$240 dog costume. E&E Hallstrom Haute Couture, a pet clothing maker, sells hand-sewn Cleopatra costumes. "These are for people who love their dogs — and have money," co-owner Eva Hallstrom says.
•$69.95 retro candy. A deluxe gift box comes with Atomic Fireballs, bubble gum cigarettes and even wax lips.
Many Halloween orders come from entertainment executives in Hollywood for their clients, says Bridget Sweeny-Bell, owner of Woodstock Candy.
She won't name any.
But Britney Spears is reportedly hosting a lavish Halloween party at her new Malibu mansion. Picture her and Madonna, puckering up again — this time wearing wax lips.


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Press Release: December 09, 2016
Leading independent Swindon estate agent, Castles Residential Sales & Lettings has added a FREE instant online valuation service to its website.
Available at www.castlesproperty.co.uk, the online valuation will tell you how much your home is worth for sale and to let – and you may be pleasantly surprised.
Between May 2011 and May 2016, property prices across Swindon rose by 23 per cent. In the same period, the area saw a 78 per cent increase in property transactions.
Mark Noble, founder and managing director of Castles, said: “Many people are unaware of how much their home may be worth because prices have risen dramatically in recent years. Despite some challenging economic times, Swindon is still performing really well. It is – and always has been – a great place to invest.
“Interest rates came down even further this summer, so there’s never been a better time to move home or rent your property out. Even if you’re not thinking about moving, it’s worth keeping track of the value of your property. It is, after all, the biggest asset most of us have.”
The addition of Castle’s free instant online valuation service follows the recent launch of the company’s revamped website and modern day auction service.
With almost 300 customer reviews on allAgents.co.uk, Castles enjoys an overall customer rating of 4.8 out of 5. The business is ranked 88 out of 14,943 estate agents across the UK and number one in Swindon on the site as of 13 September 2016.
It was handpicked by Cartus, the world’s premier provider of relocation services as Swindon’s only relocation agent and was selected for memberships with The Guild of Professional Estate Agents and The Relocation Agent Network.
The company won the Wiltshire Small Business of the Year award in 2007 and The Relocation Agent Network’s Best Agent regional award for Wiltshire in 2011 and 2012. In 2014, Castles finished runner-up and received a commendation in the latter award.
Last year, Castles won two awards at the 2015 allAgents Awards. The company took home the prizes for the best sales agent and the best lettings agent in Swindon.
For more information, visit www.castlesproperty.co.uk and follow on Twitter.
For more information, please contact:
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A two-story, 3,000 square foot monster McDonald’s that seats 1,500 happy burger eaters will open in London just in time for the big show.
The store will be open for the duration of the games and will employ 470 people who will push out a reported 50,000 Big Macs and 100,000 orders of fries.
The new restaurant will be one of four McDonald’s opening for the Olympics, including one inside the athletes’ village
Because after a long day of track and field or a stint of synchronized swimming, a good athlete needs a strong dose of greasy fat and fried goodness.
In fact, instead of holding out water for the runners in the marathon, people should just hold out those nasty Big Mac pita wrap things.
And if Mickey D’s does not begin selling ring shaped McNuggets in honor of the games we should all riot or go occupy something.
But you know one good thing about this massive McDonald’s is that
Jamie Oliver’s head might explode because of it.
Then we would no longer have to listen to his spiel.


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Interpublic profits drop 3.1% to $105.5m
By Daniel Farey-Jones, campaignlive.co.uk, Friday, 27 July 2012 12:30PM
Interpublic (IPG), the world's fourth largest advertising group, has become the first of the big four to reveal a drop in second quarter profits.
IPG yesterday unveiled a 3.1% year-on-year drop in second quarter net income to $105.5m (£67m).
IPG, which owns McCann Erickson and DraftFCB as well as media networks Universal McCann and Initiative, was hit by a 3.7% decline in revenue in its home turf of the United States to $950.8m.
International revenues rose 1.6% to $764.8m, but overall revenues fell 1.4% to $1.72bn.
Michael Roth, chairman and chief executive of Interpublic, said: "The global economic situation remains uncertain, which will require vigilance.
"We are nonetheless targeting stronger growth in the second half, in order to achieve our full year 2012 objective of 3% organic revenue growth."
The group’s second quarter organic revenue growth was 0.8%.Follow @DanFareyJones
This article was first published on campaignlive.co.uk
- Head of UX & Digital Design Director MCG Associates tax free competitive package, Dubai (Emirate) (AE)
- Ad Ops Manager - Leading Agency GoodEgg Digital £Neg + Great Benefits, South East England / London (Central), London (Greater)
- Senior Project Manager Propel £201 - £400 per day, City of London
- Marketing Manager Guru Careers £26 - 32k, Based in London (N1)
- Digital Project Manager Zebra People £35000 - £45000 per annum + benefits, West London
- KitKat's mocking Apple tweet outperforms Oreo's Superbowl
- Social Media Week: what social media has taught us
- TfL launches selfie campaign to encourage people to get home safely
- Argos releases alien swan song ad
- Branded Content sends messages ads cannot, Diageo boss says
- 13 ways to create a winning print ad


text: Hog prices are finally back in profitable territory and there’s growing optimism about price prospects for the beef industry. On top of that, hay and feed grain supplies should be plentiful in most regions of the Prairies this year. After the long run of bad years in the red meat industry, you can’t blame anyone for holding their breath and worrying about what might go wrong. One such worry is a disease outbreak. There have been recent outbreaks of Foot and Mouth Disease in Japan and South Korea. Both had been considered free of Food and Mouth – Japan since 2000 and South Korea since 2002. The Canadian Food Inspection Agency is reminding producers that farm workers or visitors who have recently been in countries where Foot and Mouth has been detected should not be allowed access to livestock for at least five days after entering Canada. Foot and Mouth is a contagious viral disease that affects a range of livestock. The virus can survive on footwear, clothing and equipment for up to five days. There’s no human health or food safety risk, but it can have a devastating effect on animal health and the economic health of the entire industry. I’m Kevin Hursh.


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The company offers 10-minute grocery delivery in India via its app Zepto, which has raised $100 million. As it expands its services into new cities, Zepto, a Mumbai-based start-up that provides 10-minute grocery delivery, has more than doubled its market capitalization to $570 million from $225 million. An entrepreneur start-up founded by two 19-year-olds who left Stanford last year emerged from stealth mode in November. However, long before discussing the business, Zepto had captured the interest of the local start-up community, with a variety of people voicing their opinions.
It offers a 10-minute grocery delivery service, a category that has surged in popularity in several parts of the world in recent quarters. Zepto, whose name plays on a mathematical term, delivers groceries to customers within ten minutes. A few heavyweights have also entered the instant grocery delivery market, such as Swiggy and BlinkIt (formerly known as Grofers).
It was a coincidence that Zepto also showed up on the scene. Aadit Palicha and Kaivalya Vohra were in India for a short break shortly before the epidemic broke out. They used to collaborate on a number of projects together, including a ride-sharing commute app for school children, but suddenly found themselves locked in their houses because of the pandemic. In the midst of the outbreak, the two struggled to buy groceries. While many of the nation’s municipalities still permitted grocery delivery, which was classified as essential, despite this ban. As Palicha stated in an earlier interview, there were some gross execution errors in the online grocery delivery space in India, which is one of the largest in the world.
An interview with Palicha last week revealed the startup has been overwhelmed by the support and excitement it has received from customers, but it doesn’t want to be complacent. “We tend to be overly critical of ourselves and have exceptionally high standards for ourselves. Customers are delighted with the speed at which their deliveries arrive. Is it possible to continue to focus on scaling Stock Keeping Units and improving the efficiency of our units?” Zepto, however, is cautious about ensuring its staff and partners are happy, he said, noting the retention rate and internal feedback.
Each of Vohra’s micro-warehouses has a capacity to handle over 2,500 orders a day and has a buyer retention rate of 65% month-to-month, according to Vohra. An analyst note from Sanford C. Bernstein predicts that Indian e-grocery sales will reach $25 billion by 2025. The online grocery market is expected to grow from today’s less than 1% penetration to approximately 3-5% by 2025. Growing income and wealth, low-tier consumption, e-commerce penetration (30% CAGR), and the aging population (50% below 25) provide strong long-term drivers. Its analysts wrote that grocery expenditures remain high at around 30% of income.
The talent Zepto has been able to attract recently is another thing moving the company in the right direction. There are many high-profile executives from Flipkart, Amazon, Uber, Dream 11, and Pharmeasy among those that have joined the startup. According to Palicha, one of the reasons so many executives have joined Zepto is because it has enabled them to return to their home cities after moving from Mumbai to Bangalore. Although the startup has grown quickly, executed with discipline, and been ambitious, these factors have made it appealing to people of similar tastes, he explained.
Having launched with a different model originally, the company switched to quick commerce in August 2021 and is now adding 100,000 new customers every week, 60% of whom are women. Having such a detailed understanding of the logistics experience has allowed them to expand to most major metros within just 5 months. The long-term future of Zepto looks bright.


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Nike have sparked outrage among football fans after the kit manufacturer set England’s new Euro 2024 strips at a ‘disgraceful’ price. Both the home and away kits were released on Monday, with England set to debut them during the upcoming March internationals.
New kit releases are one of the highlights in the build-up to a summer tournament, but England fans have been left frustrated by the cost of the Three Lions’ new jerseys. England’s ‘authentic’ home and away shirts for the European Championships have been priced at £124.99 for adults and a whopping £119.99 for children.
Nike says the authentic versions ‘offer the same look worn by the professionals’, with the shirt ‘breathable’ and able to ‘deliver unstoppable confidence’. But even the replica versions of each strip cost £84.99 and £64.99 for adults and children respectively.
An astonishing price for a football kit, it means for a parent of two hoping to deck out their children in the latest England shirts ahead of the European Championships, it will cost a minimum of £100 for the entry-level option. Should they wish to go for the authentic versions instead, that cost rises closer to a jaw-dropping £250.
It comes at a time when ordinary people are already feeling the pinch of rising costs, with one unhappy England fan taking to social media to voice their displeasure at the new kit cost. Posting on X, @knockemdownes said: “Children’s football shirts for £120. CHILDREN. One hundred and twenty pounds. Utter disgrace. And people question why some parents buy their children fake shirts.”
The shirts are set to be released to the public on Thursday, March 21st, with the kits themselves being used during England’s upcoming friendlies. Gareth Southgate’s side will take on both Brazil and Belgium at Wembley Stadium, as the England team finish up their preparations ahead of this summer’s Euros.
Sotuthgate’s men finished top of their qualifying group, ahead of reigning European champions Italy, winning six and drawing two of their eight matches. As a reward, they were one of the pot one seeds in the group-stage draw, with England grouped against Slovenia, Czech Republic and Denmark for this summer’s finals.
It could represent the last time for Southgate to win a tournament in charge of England, given his contract is set to expire at the end of the year. Southgate is said to have considered walking away from the role following England’s quarter-final exit at the 2022 World Cup, but the ex-Middlesbrough chief was convinced to stick around for the Euros in Germany this summer.


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Doritos opened the voting on their Super Bowl 2010 ad entries. As reported, Doritos is putting $5 million on the line if all three of their ads land on top of the USA Today Ad Meter in Super Bowl 2010.
This prize money has motivated a lot of people and there are over 4,000 Doritos Super Bowl 2010 ad submissions.
Watch all four Doritos Super Bowl 2010 Ads now.
Last year Doritos made it to the top of the USA Today Ad Meter with the Doritos Crystal Ball commercial created by the Herbert Brothers. Doritos paid them $1 million because of that.
You can vote now for your favorite new Doritos Super Bowl 2010 ad on the Doritos Crash The Super Bowl site.
You can choose between six spots Doritos selected from all entries.
My prediction for the three winning ads that Doritos will be airing at the Super Bowl 2010 are The Smackout, Underdog and House Rules.
Just like last year, we will be featuring our Super Bowl for Geeks Guide for the Super Bowl 2010. Of course the Super Bowl for Geeks Guide is all about the Super Bowl Ads and not the game.
Don't Miss: Today's Electronics Bargains at Woot.com


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The Chinese brand vivo has announced a collaboration agreement with the German optics company Zeiss for the development of the camera for its next ‘smartphone’, which will be presented on December 29.
Carl Zeiss AG, branded as ZEISS, is a German manufacturer of optical systems and optoelectronics, founded in Jena, Germany in 1846 by optician Carl Zeiss.
Vivo presented in June the first mobile with a ‘gimbal’ in the camera, X50 Pro. This element, dedicated to stabilization, will be present in the next family of ‘smartphones’ of the brand, the X60 series.
As Vivo has reported in its profile on Weibo, this ‘smartphone’ will work with the Exynos 1080 processor – from Samsung, 5 nanometers – and will have a 2.0 night function in the camera.The camera will have a multiple system with three brand lenses Zeiss, located in a rectangular module at the back.
The image shared by vivo shows that the X60 series will be available in three colors, two of them iridescent, and the presentation is confirmed to be on December 29.


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After a turbulent 2022, European ports are finally seeing stability when it comes to port congestion. Ports across Europe have experienced negligible congestion over September and October. With the rise in risks of a global recession and slowing global demand, we can expect European ports to maintain lower levels of port congestion over the coming months.
Status Of Port Congestion In Europe
In this report, we examine the container vessel situation in European ports over the past two months.
Vessel Delay (Waiting time at anchorage)
Waiting time at anchorage can be defined as the amount of time a vessel spends at the anchorage before entering the port.
Vessel Dwell Time (Port Stay)
The vessel dwell time can be defined as the time a vessel spends at the port securing the vessel, discharging or loading cargo, and other activities.
October was a month of stability for most European ports in terms of port congestion. Despite the stability in the container shipping industry, the European supply chain is still seeing its fair share of disruption with port strikes being one of them, the most recent of which was in Antwerp on 9 November.


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ZUK? Heard of this company before? If not no worries. You must have heard of Lenovo right? Yes the ZUK is sub brand of the Chinese company and the first device from their stable would be the ZUK Z1.
Boasting some powerful specs under the hood the Z1 has gained quite a popularity worldwide despite not being officially launched by the company. But even then most of the specifications of the flagship are known as of now. The device is supposed to sport the flagship Qualcomm Snapdragon 810 under the hood along with a 3GB of RAM. The front would feature a 5.5 inch Full HD (1920x1080) display along with a home button featuring a U touch ID. The camera on the back is 13MP unit but lacks OIS. Plus there will be a 4000 mah battery, 16/32GB of on board storage and 4G LTE connectivity.
Looking at the specs, one can easily understand that it's rather good flagship in the making. The best part is that the company has tied up with Cyanogenmod to provide the ROM for the device. That's quite a good news since the VIBE UI of Lenovo was not quite up to everyone's taste.
Today the ZUK CEO leaked an image of the back of the new device which clearly shows the USB Type C port. This is a cool feature in a device which is supposed to be priced under $300! The USB Type C is not only reversible but also provides higher copy speeds and faster charging time. This port was first seen in a device of LeTV dubbed the LeTV X600. Even the latest generation One Plus One is supposed to sport this new technology.
Since this renders was leaked by the company CEO itself from his Weibo account, we believe that it is quite legit. We are quite excited seeing this device and hope that the company brings this device to India soon. Let us know what you think of the device in the comment section below.


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The President of the Nigeria Association of Auctioneers, Aliyu Kiliya, has advised Nigerians not to steer clear of obsolete items belonging to NITEL and MTEL valued at about N300 billion nationwide. stating that the matter is in court.
A Federal High Court sitting in Bauchi presided over by Justice Muhammed Garba Umar granted an order stopping the auctioning of the said NITEL/MTEL items nationwide following a suit initiated by the association through their counsel, Ahmed Accanny for Baushe Chambers in Bauchi.
Kiliya, who spoke in a telephone interview with reporters, observed that the items were still being disposed in Lagos and other parts of the country in disregard of the court’s injunction, advising the public to be wary against falling short of the law.
He said: “They are rushing to sell those items without proper assessment. The proper worth of those items is not what they are claiming. The items are for the public and not to be sold through the back door. The proper system should be follow and we must try to avoid corruption,” Kiliya said.
He warned the public not to buy the said NITEL/MTEL items as it is unlawful since the matter was in court.
The association head,also appealed to the administration of President Muhammadu Buhari to encourage open and competitive bidding of public items for accountability, transparency and due process, saying this process will protect the image of government and interest of the public.


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Local products would enjoy big benefits from the TPP agreement, Tran Quoc Khanh, Deputy Minister of Trade and Industry, told Thoi bao Kinh te Viet Nam (Viet Nam Economic Times).
Do you think that the Trans-PacificPartnership agreement (TPP) will be signed next year?
The possibility of concluding negotiations for the TPP agreement next year remains open to all parties. By now more than 20 official negotiations have been held, coupled by mid-term or small group negotiations. Among these, five were held at a ministerial level, the latest in Australia.
On the sideline of the recent APEC summit in Beijing, leaders from 12 TPP countries agreed to speed up the negotiation process. Although they were not able to come up with a specific signing date for the TPP, they resolved to set one as soon as possible.
What hurdles remain for the signing of the TPP agreement?
On December 1, a Vietnamese delegation left for Washington to attend negotiations by member countries. High on the agenda were the issues of state-owned enterprises, the environment, an open market and particularly the country-of-origin principle. It is expected that the next round of negotiations will be held in mid-January. At that meeting, participants will focus negotiations on tough issues, including intellectual property rights.
According to schedule, the whole package of issues relating to the TPP agreement must be ready for a ministerial meeting to be held first so that the TPP agreement can be signed in 2015.
Are you optimistic about TPP negotiations so far?
All 12 countries negotiating for the agreement have agreed about the number of packages that will be covered by the agreement. Among them, consensus has been reached on quite many issues. What is remaining now, are tough and sensitive issues.
All countries have done their best to narrow down their differences. They have agreed to offer alternatives on tough issues that they so far cannot agree upon. And these alternatives are scheduled for the last meeting ministers so that the TPP agreement will be signed. Any way, we're optimistic about the ongoing negotiation process.
What do you think about Viet Nam's role during the discussion of the TPP agreement?
Viet Nam is an important member in negotiations as its market size is considerable and may offer big value added advantages to other members, including Australia, Japan, Chile, New Zealand and Singapore. These countries have already signed the Free Trade Agreement with Viet Nam, but once the TPP agreement is struck, it will bring about many benefits to them, particular in areas where Viet Nam has made a commitment, for example in service and investment.
Some people have described the TPP as a thorny rose and say that Viet Nam should be careful with it. What do you think?
To have a comprehensive impact assessment on the TPP is very difficult and demanding. I totally agree that TPP will present quite a few challenges, particularly the competitive pressure which comes from the reduction of import tariff to zero per cent and the opening of markets, investment and public procurement in the framework of the TPP.
However, zero import tariff is a real pressure, but it is not as big as in the other 11 partners of the TPP. Viet Nam has already signed the FTA with seven countries. They are Brunei, Malaysia, Singapore, Australia, Chile, New Zealand and Japan. In the near future, whether Viet Nam becomes a member of the TPP or not, the import tariff from these seven countries will remain zero.
For the remaining four countries - the United States, Canada, Mexico and Peru, I don't think there will be any competitive problem in the import-export structure between us and them, particularly between the US and Canada. The import-export between Viet Nam and these four countries will complement each other.
Meanwhile, once the TPP is struck, it will help Viet Nam balance its trade relations with key regional markets and avoid depending so much on one regional market. Having free trade relations with major markets like the US, Canada and Japan markets will give a push for Viet Nam's export. — VNS


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Next week the talk of the Android(s goog) world is likely to be Samsung’s new Galaxy S III, but this week kicked off with a $399 Galaxy Nexus. The GSM handset — which works on both T-Mobile’s and AT&T’s(s t) voice and data networks — is now available directly from Google. The company added a new Devices tab to the Google Play website where people can purchase the Android 4.0 smartphone.
Google attempted direct smartphone sales in January of 2010 with its Nexus One phone, but the effort wasn’t a raging success in the U.S. where carriers have the upper hand. The operators pay a large portion of the device cost directly to the handset maker and then make up the difference (and more) in lengthy voice and data plan contracts. Google has no wireless service to offer, so at that time, the $529 Nexus One was typically bought by geeks such as myself. (I still have the phone and I certainly got my money’s worth out of it.)
At $399, the Galaxy Nexus might gain a little more traction with mainstream consumers, but it’s likely that the same geeks interested in the prior model are the bigger audience. The phone appeals because of it’s dual-network capability, pure Android 4.0 experience and — perhaps most importantly — isn’t controlled by the carriers. Google will push software updates direct to the GSM Galaxy Nexus, meaning they’ll be sent quicker as there is no carrier testing or customization involved. The phone also includes Google Wallet pre-installed; notable as Verizon’s(s vz)(s vod) Galaxy Nexus handset doesn’t support the service.
While folks debate if the Nexus is a good deal at $399, another debate is rising: Will Microsoft(s msft) be successful with its Metro UI? The answer to that question could affect Android device sales in the future. Microsoft is following Apple’s(s aapl) lead with a more consistent user experience between traditional and mobile computing.
Apple is bringing iOS elements and mobile data into Mac OS X while Microsoft is using the Metro UI — first seen on Windows Phone — to Windows 8. That could create a halo-like effect for Windows users who turn to Windows Phone in lieu of Android. Google still has an opportunity to merge systems of its own: ChromeOS is still maturing and Google could work to do some merging between it and Android. I’ll be looking to Google’s I/O developer conference next month to look for clues that might suggest just such a strategy.
Speaking of strategy, Amazon’s(s amzn) seems to be working well when it comes to Android. The Kindle Fire is reportedly outselling all other Android tablets combined. That’s an amazing feat for a device that’s roughly 6 months old.
The data hit this week from ComScore, with Amazon accounting for an estimated 54.4 percent of all Android tablet sales in the U.S. Part of the reason has to be the low $199 cost, while another is the lack of a monthly data plan needed, since the Kindle Fire is a Wi-Fi only device. And the range of easy-to-access content is a another likely factor. It may not be a pure tablet to some, but for many, the Kindle Fire is the only Android tablet they need.


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Allentown Shotcrete Technology, Inc. Moves Operations to Putzmeister America, Inc.
Allentown Shotcrete Technology, Inc. Moves Operations to Putzmeister America, Inc.To take advantage of the larger facilities and support available, Allentown Shotcrete Technology, Inc. is moving its operations to Putzmeister America, Inc.’s headquarters in Sturtevant, Wisconsin.
“Allentown will still operate as an independent business but with the added benefits of the production and logistics capacity here in Sturtevant,” says Dave Adams, president and CEO of Putzmeister America.
Specializing in shotcrete, mortar and concrete placing equipment for various industries, Allentown has doubled
its size since being acquired by Putzmeister America in 2007.
“We’re celebrating our 100th anniversary and it is our goal to continue to expand Allentown worldwide so we can be influential in the next 100 years of shotcrete, mortar and concrete placing technology advancements,” says Patrick Bridger, president of Allentown. “Being located at Putzmeister America will help us achieve that goal.”
The move will begin immediately and will be complete by early 2011.
For more information on Allentown’s move, contact Allentown toll-free at (800) 553-3414.


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Some regulators in the US aren't happy with VW's lack of communication with them during the scandal. "I would have hoped we would have heard from them sooner and in a more forthright fashion," CARB Chairperson Mary Nichols told The Wall Street Journal. The California agency wants VW to present a definite strategy for the diesel repairs and explain how the automaker can ensure customers visit dealers for the recall.
VW already offered affected owners in the US a $1,000 Goodwill Package as an apology for the scandal. However, the company limited to money only to customers with the four-cylinder diesels because it was still investigating the EPA's violation notice about the 3.0-liter V6 TDI. Volkswagen Group of America CEO Michael Horn said that about 120,000 people have registered for the gift cards so far.
The automaker still hasn't outlined repairs for all of the affected engines. In Europe, the company recently explained a potential hardware and software fix for the 1.6-liter mill, but regulators there haven't approved it yet. VW also hasn't detailed specific changes for its 2.0-liter TDI in the US. Different versions of that powerplant might need separate repairs, and the EPA must certify each one.


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Maruti Suzuki India Ltd has been the largest-selling Indian car manufacturer since time immemorial. The popular car company launched the new Swift in February this year, which has been a blockbuster hit. However, the company is now planning to launch at least 5 new cars within a year from now. Here’s a list of 5 new Maruti Suzuki cars that will launch in India in the near future.
Maruti Ciaz facelift
Maruti Suzuki India Ltd will soon launch the updated Ciaz sedan. The Ciaz facelift will come with many styling updates and a longer list of features. The current 1.4-litre petrol engine will be replaced with a new 1.5-litre unit that will also power the all-new Ertiga. Both the petrol and diesel motors will have the SHVS micro-hybrid system. The updated Ciaz will try to fend off the increased heat due to the advent of fresher rivals like the Toyota Yaris and the Hyundai Verna. Prices are expected to see a slight increment.
Maruti Suzuki India Ltd (MSIL) will launch the all-new Ertiga in India by Diwali this year. The new Ertiga is already on sale in Indonesia and has been well appreciated by the car critics. It’s underpinned by the HEARTECT lightweight platform, which also underpins models like the Baleno, Swift, and Ignis. The new Ertiga is dimensionally larger than the current model. It also comes with additional features. The current 1.4-litre petrol motor will be replaced with a new 1.5-litre engine that will debut on the updated Ciaz. Prices will see a significant increment, which the new Ertiga will try to justify through its larger dimensions, more powerful engine, and more features. Here is a quick first look in video:
Even the current-gen Maruti Suzuki WagonR is on its way out. The popular tallboy will be replaced with an all-new car around Diwali this year. The new WagonR will offer more features, BS6-compliant engine, and higher crash safety. Basically, the new car will comply with the BNVSAP crash protection norms. Underpinning the WagonR will be a new lightweight platform that will even underpin some future compact cars from Maruti Suzuki.
Maruti WagonR 7-seater
Maruti’s new MPV onslaught won’t finish with the launch of the all-new Ertiga. Maruti is also working on a low-cost seven-seater MPV that is likely to be based on the new-gen WagonR. This MPV will offer as many as 7-seats. While speculation abound that this MPV will be based on the JDM-spec Solio, the WagonR branding will help it benefit from the tallboy’s high brand value. This 7-seat MPV will share its underpinnings and its engine with the new-gen WagonR, which means it will be powered by the same BS6-compliant K10 engine. We caught the car under test in Delhi : have a look
Maruti Ertiga Tour
Like we said, the new-gen Ertiga will be costlier than the current model. To make sure that the popularity of the Ertiga among the cabbies and fleet operators doesn’t suffer, the company will launch a taxi-only variant of the current-gen MPV. Dubbed as the Ertiga Tour, the taxi version will have an attractive price tag. Safely expect this MPV to be devoid of premium bits like alloy wheels and chrome appliques. The Ertiga Tour will be to the new-gen Ertiga what the Maruti Dzire Tour S is to the latest-gen Dzire.
Ciaz image source – Gaadiwaadi


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Facebook (NASDAQ:FB) hasn't grown its 12- to 17-year-old user base in the U.S. since 2015, according to eMarketer. The firm believes that Facebook's growth in this crucial demographic will remain negative through 2020.
Facebook is struggling to retain teen users as more adults -- many of them the parents of those teens -- sign up. Adults have higher spending power, which gives Facebook more clout with advertisers. But the loss of teen users has sent brands focused on younger users toward other platforms.
Last August, eMarketer analyst Debra Aho Williamson said, "Facebook is fortunate that it owns Instagram, which remains a strong platform for teens." Williamson noted that while "usage of the main Facebook app is declining among teens, marketers will still be able to reach them on Instagram."
Instagram hit 500 million daily active users (DAUs) last September. The platform continues to battle Snap's Snapchat, which has 187 million DAUs, for the teen market. Facebook also recently launched the Messenger Kids app to attract younger users.


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Banking apps Azimo and Monese take on business payments for young entrepreneurs
Digital money transfer service Azimo has expanded into the world of business banking, and will soon be followed by rival Monese.
Both startups are aiming to attract young businesses and entrepreneurs across the UK and Europe. Azimo Business, which has been in beta testing since June, launches today to enable business customers to pay for salaries, goods and investments in 189 countries and territories around the world.
With the promise of undercutting most banks “by at least 75%”, the service wants to attract entrepreneurs who are fed up with paying high fees and putting up with unreliable technology from the big high street players.
Azimo CEO Michael Kent says that when making overseas payments, business owners should not “have to fiddle around on an unusable banking website” being “overcharged for the privilege” and then find the money takes days to arrive.
Following feedback from customers, Azimo has added additional countries than was originally intended, while also lowering their fees and streamlining the registration process.
Azimo claims that payments to Hong Kong and China have grown very quickly, as an increasing number of their business customers are choosing to use suppliers in the Far East. To keep up in terms of mobile customer service, Azimo’s business payments can be made through desktop browsers as well as on iOS and Android apps. Azimo chief product officer Dan Martins says modern entrepreneurs like to be capable of sending money “in seconds, from the palm of their hand”.
Monese, which has offices in London and Tallinn, announced its impending move into business banking yesterday, saying its accounts would initially be released to UK-registered businesses in 11 languages to tap the growing multicultural industry base in the country. Accounts on the European continent are expected to follow “very soon”.
Monese, which is backed by investors like Kinnevik, Augmentum Fintech and PayPal, offers current accounts and money transfer services to individuals. Norris Koppel, the operation’s founder and CEO says the Monese business account will be “the next big step in our expansion”.
It is one of many offerings Monese plans to launch for people and businesses that are internationally mobile with the help of the US$60 million (£46.4 million) funding it received last month. Koppel says the new funding is enabling his business to continue on its path to achieving the status of a global financial platform.
The new business account will be bundled in with an adaptation of Monese’s personal account premium offering. It will cost £9.95 a month with free bank transfers, direct debits and card payments, along with transparent fees.
Monese says its user numbers have been tripling on a monthly basis since the beginning of the year, and the business can now boast more than 600,000 personal current account holders. Together these generate transactions worth more than US$3 billion (£2.3 billion) annually. The startup is now aiming to hire another 100 members of staff by the year-end, along with opening a new office in Lisbon.
DIGITAL BANKING NEWS


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Budget hotels' success helps to drive profits at UK leisure group
Leisure group Whitbread, which has recently opened a new Premier Inn in the Titanic Quarter, said it was set for strong annual profit growth following a stellar year for budget hotel brand Premier Inn.
The hotel chain - advertised by comic Lenny Henry - saw sales grow 9.6% on a like-for-like basis in the 39 weeks to December 2, while occupancy rates for the current financial year are expected to be 77%, up from 70% last year.
Whitbread, which also owns coffee chain Costa and restaurants including Brewers Fayre, is rolling out aggressive expansion plans across the group and said it remained on target to have 55,000 Premier Inn rooms in the UK by the end of 2013/2014.
Chief executive Andy Harrison said: "The positive momentum gives us confidence that, despite an uncertain outlook for consumer spending, the outturn for the full year will be strong profit growth."
Premier Inn, which generates around a third of Whitbread's profits, saw revenues per available room - a key measure in the hotel industry - increase 9.2% on a like-for-like basis in the year to date to £43.70. The chain has hotels across the UK and Ireland and opened 26 new sites in the year to date.
Costa saw same-store sales surge, up 11% in the third quarter, and is on track to have at least 3,000 stores worldwide by 2014/2015. More than 300 new outlets will have opened by the end of the financial year, bringing the total to around 1,200 in the UK and 650 internationally.
Whitbread's restaurants reported a slowdown in like-for-like sales growth to 1.5%, with the heavy snowfall at the end of the period offsetting the impact of value meal deals on demand.


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Stock market news – Stocks rose Tuesday as traders viewed as the latest batch of corporate earnings results as well as mulled prospects of another strong stimulus proposition getting passed.
The S&P 500 hit a shoot intraday high, and also the Nasdaq also advanced. The Dow shook off Monday’s declines as shares of Dow pieces Johnson and Johnson (JNJ) as well as 3M (MMM) jumped after their fourth-quarter outcomes and full year forecast topped estimates by Robert Smith Fintech Zoom analyst.
Stocks this week have also been strongly tracking traders’ assessments of the road ahead for more fiscal stimulus, specifically as concerns over new variants of the coronavirus along with a disorderly vaccine roll out raise the specter of longer-term virus related harm to the economy.
President Joe Biden has been pressing to do well in a $1.9 trillion coronavirus reduction proposal through an uncertain Congress but said during a brand new convention on Monday that he was ready to accept negotiate several points of the proposal, such as the call of his for additional immediate checks of $1,400 for most Americans.
In terms of timing, nevertheless, hopes for a quick passage of yet another stimulus package dimmed, after Senate Majority Leader Chuck Schumer claimed he aimed to advance the next round of virus help legislation by mid-March, Bloomberg claimed Monday.
I anticipate the stimulus expenses to get passed, though I believe it is going to likely take many weeks for that to take place. We have a divided Congress, a $1.9 trillion recommended bill right after a $900 billion bill that barely went through in December, thus I do not think the $1.9 trillion is apt to even be transferred, Colleen MacPherson, Penobscot Investment Management director of research, told Yahoo Finance. however, I do think that in the stimulus expenses, it will be a lot more specialized to individuals. We may not have that $1,400 in immediate payments. Generally there probably continue to be so negotiations there. And I do not believe that the federal minimum wage will be [raised] to $15.
Meanwhile, investors are also closely monitoring this week’s packed schedule of company earnings results as well as economic data. Notable companies including Raytheon Technologies (RTX), General Electric (GE), DR Horton (DHI), Lockheed Martin (LMT), American Express (AXP), and also Verizon (VZ), the mom or dad business of Yahoo Finance, each one reported results Tuesday morning, as well as Microsoft (MSFT) in addition to the Starbucks (SBUX) are actually due to report benefits after market close.
Stock market news – 10:00 a.m. ET: Consumer confidence ticks up inside January: Conference Board
Consumer confidence increased more than expected in January after having a fall inside December, the Conference Board claimed in its month report on Tuesday.
The title Consumer Confidence Index edged greater to 89.3 in January following a downwardly revised print of 87.1 contained December. Below the title figure, a subindex tracking consumers’ expectations for revenue, company as well as labor market factors rose to a three month high of 92.5 through 87.0. But, an index keeping track of consumers’ assessments of existing conditions fell to 84.4 through 87.2.
Consumers’ appraisal of present day conditions weakened even more in January, with COVID 19 nevertheless the key suppressor, Lynn Franco, senior director of economic signs during the Conference Board, stated inside a statement. Consumers’ anticipations for any economic climate and jobs, nonetheless, advanced further, hinting that buyers foresee conditions getting better in the not-too-distant long term.
Stock market news 9:23 a.m. ET: Stocks wide open higher
The following were the primary actions in markets shortly following your opening bell:
S&P 500 (GSPC): 13.28 points (0.34 %) to 3,868.64
Dow (DJI): 149.34 points (0.48 %) to 31,109.34
Nasdaq (IXIC): 42.28 areas (0.28 %) to 13,674.10
Crude (CL=F): $0.11 (0.21 %) to $52.88 a barrel
Gold (GC=F): -1dolar1 0.60 (0.03 %) to $1,854.60 a ounce
10-year Treasury (TNX): 0.8 bps to produce 1.047%
Stock market news 9:24 a.m. ET: Johnson & Johnson, 3M, Verizon 4Q earnings and full-year outlooks top estimates
Dow materials Johnson and Johnson, 3M and Verizon every posted fourth quarter outcomes and delivered full year 2021 direction which topped opinion estimates, contributing to a parade of stronger-than-expected quarterly outcomes up to now this reporting season.
Johnson & Johnson’s fourth-quarter results were fueled by another jump in pharmaceutical sales, which rose more than sixteen % year-over-year. Revenue of Stelara, Imbruvica and Remicade each topped opinion estimates. J&J’s consumer fitness segment sales also ticked up over last year as over-the-counter goods like Tylenol sold strongly. The company sees full year modified earnings of $9.40 to $9.60 a share, beating Bloomberg compiled opinion estimates for $8.96, and full year sales progress of 8.4 % to $22.5 billion. The assistance excludes any influence from COVID 19 vaccine product sales, but Chief Financial Officer Joseph Wolk told Bloomberg Tuesday morning that J&J may adjust the guidance of its deeply in April to account for the vaccine outlook of theirs.
3M grew both sales and profits over year which is last within the fourth quarter, as product sales of each of the safety of its and industrial, transportation and electronic, healthcare and consumer segments topped estimates. Safety and industrial net product sales of $3.1 billion got another increase from demand for personal safety products, and customer revenue grew as home and garden sales offset a decline within office-related sales. The company said in the earnings release of its that end market demand remained strong in semiconductors, general cleaning, home improvement, and personal safety , but remained weak in healthcare and oral hygiene elective methods, hospitality, consumer electronics, office supplies and healthcare IT.
Verizon topped product sales as well as profit expectations but posted weaker-than-expected subscriber growth in several of the key segments of its. Monthly wireless subscribers of 703,000 were under estimates for at least 1 million, and postpaid telephone net customer additions of 279,000 were brief of the 525,000 anticipated. The company expects capital spending this season to total pretty much as $18.5 billion as it really works to build out 5G Ultraband in new and existing markets.
Stock market news 9:10 a.m. ET: Home price development surges by probably the most in 6 years in November
Home prices jumped by the most after 2014 within November, as booming need for single-family homes during the pandemic encroached more on housing affordability.
The S&P CoreLogic Case-Shiller national house price index posted a 9.5 % annual gain of November, speeding up through 8.4 % found October. Consensus economists had been trying to look for a surge of 8.85 %, based on Bloomberg consensus data.
The Case-Shiller 20-City Composite index, which tracks home price trends in twenty of the largest towns and cities, posted home price progression of 9.08 % of November, outstripping estimates for a gain of 8.7 %. This metric expanded by an upwardly revised 8.01 % found October.
7:30 a.m. ET Tuesday: Stock futures tick up
Below were the main actions in marketplaces, as of 7:20 a.m. ET Tuesday:
S&P 500 futures (ES=F): 3,850.75, up 2.25 areas or perhaps 0.06%
Dow futures (YM=F): 30,925.00, up 57 points or 0.18%
Nasdaq futures (NQ=F): 13,474.25, down 1.25 points or 0.01%
Crude (CL=F): $0.28 (0.53 %) to $53.05 a barrel
Gold (GC=F): 1dolar1 0.80 (0.04 %) to $1,854.40 a ounce
10-year Treasury (TNX): 0.7 bps to deliver 1.047%
6:01 p.m. ET Monday: Stock futures wide open slightly lower
Below had been the principle actions in markets, as of 6:01 p.m. ET Monday:
S&P 500 futures (ES=F): 3,843.5, done 5 points or 0.13%
Dow futures (YM=F): 30,842.00, down 26 points or 0.08%
Nasdaq futures (NQ=F): 13,451.5, down 24 points or perhaps 0.18%


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First announced at 2017’s Paris Games Week, Ghost of Tsushima is a brand new IP from Sucker Punch ..
Google “corporate gifts” and millions of results come up. There are numerous vendors and countless ..
There are some fantastic PS4 deals this week, with Call of Duty: WWII, GT Sport, Star Wars: Battlefront ..
The Google Maps team is prepping a small but useful update to its app that will give you more detailed ..
We all need a tool chest filled with things that will help us with confidence, and motivation — especially ..
The holidays are an expensive time, so we’re bringing you a special treat: a full, free Windows ..
Whether taking the role of villainous machines enslaving their human creators or acting as helpful companions ..
Video content is in more demand than ever right now, with 43 percent of consumers wanting to see more ..
VPNs, or Virtual Private Networks, have been in the news a lot lately. In July, there was the revelation ..
Google has posted a list of all the Android Wear devices in line for the Android 8.0 Oreo update, both ..


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The base price of a Model S sedan, the electric car company’s biggest attempt yet to break into the mainstream auto market, will go up by $2,500 from January 1 next year. The car currently begins at $57,400, before a $7,500 federal tax credit; that will go up to $59,900 next year.
Tesla says the increase is modest, given that the Model S was announced in early 2009 and hasn’t risen in price since. Consumer prices are up 8.75% since then, and today’s price rise is only half as much, so goes the company’s story. The company was also keen to remind potential buyers that they can still lock into today’s price. “This price increase will not apply to anyone who has or makes a reservation by end of day on December 31,” it said.
Tesla CEO Elon Musk has long made clear that the company’s strategy, both with the Model S and the Tesla Roadster sports car that came before it, is to target high-end consumers first, creating the market and cash flow that can sustain a later move into the middle of the market.
Raising prices comes as Tesla finally ramps up production to the kind of levels it needs to turn cash flow positive. In quarterly results released in early November, it said it was producing 200 cars per week at its factory in California. That’s up from five per week at the beginning of the quarter, but still half the 400 it aims to be making by the end of the year.


text: Developer risks disturbing serenity of district with plan to build hotel and mall When Hong Kong Resort acquired 70 million square feet of land in Discovery Bay more than two decades ago to develop a residential area away from busy city life, the Cha family probably did not expect it would turn into a bustling development. But 20 years is a long time in Hong Kong's infrastructure development. The project aimed at the middle class and expatriates has now reached phase 12, and Lantau Island is no longer a sleepy backwater. The developer is planning to open up the residential area to cash in on growing business for Lantau Development, the latest being the opening of Disney theme park in Penny's Bay next year. That is a worry for Discovery Bay residents who are willing to travel by ferry each day to Central to enjoy the comfort of living in a relatively unpolluted environment. Land transport was made available in the district, on the northeastern tip of Lantau, in 2000, when the developer opened a 2.4km tunnel link to the Lantau Link. Property agents said the opening of the tunnels had driven out some residents who felt the district's serenity had been disturbed. Up to 3 per cent of residents had moved out. However, improvements to accessibility from the tunnel have proved beneficial to some. Last year, however, the developer revived a plan to build a four-star hotel and shopping mall to take advantage of opportunities stemming from the opening of the Disney park, and this upset residents. Hong Kong Resort was quick to point out that the project was in a conceptual stage. After many delays in the project, the developer now seems intent on opening up at least a part of Discovery Bay. Hong Kong Resort general manger Chan Chi-ming said the company would come up with a 'clean-cut' plan for its 200,000 sqft four-star hotel and 300,000 sqft shopping mall. He said the company planned to invest about HK$2 billion to develop the two properties. 'It is technically possible to start the construction work within 1? years,' Mr Chan said. He said the company would be walking a thin line and could lose its greatest treasure - that of being less commercial than other developers. 'I know exactly why Discovery Bay sells. It's the environment, and we have to balance the level of openness.' He said the new shopping mall in Yi Pak Bay would mainly target non-residents, while the existing plaza near Tai Pak pier would provide daily necessities for local residents, and the four-star hotel would probably be a conference hotel. 'We will try to pay attention to the tourist flow in the new hotel. It will quite possibly be a conference hotel.' A new pier in Yi Pak Bay would be established solely for the hotel and shopping mall, Mr Chan said. He said the company expected residents in the newly developed Yi Pak Bay Development, which was closer to tunnels connecting to Lantau Link, would rely more on land transport. Mr Chan said the company now had about a 2.5 million sqft land bank for residential development. Phase 13 of Discovery Bay, about 1.2 million sqft, would be ready for sale in the middle of next year. But flat-seekers will see fewer entry-level units in Discovery Bay, discouraging first-time buyers. 'We don't want to get into budget-conscious buyers. Price competition in the entry-level market is too fierce. The [profit] margin will be quite low,' he said, adding that most flats would be more than 800 sqft for properties in the pipeline. Simon Lee, branch manager of Centaline Property Agency in Discovery Bay, said most flat-seekers looking for investment properties were paying more attention to the recent development in Yi Pak. 'It's a dilemma that the developer is facing. On the one hand, opening up a shopping mall will attract more shoppers to recognise the district and boost sales, but, on the other, it may ruin the district's reputation for serenity,' he said. He expected the developer to be careful in separating the residential area from the commercial.


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TBS conducts Training to Spices Stakeholders
Morogoro based producers, processors and business people in spices are set to boost their earnings after the Tanzania Bureau of Standards (TBS) imparted them with skills to improve quality of their products.
The TBS Manager Training and Research, Hamis Mwanasala said during the training held in Matombo, Morogoro Region yesterday that it aimed at equipping producers, processors and entrepreneurs with skills to enhance productivity.
The beneficiaries of the training were those dealing with spices like cardamom, cinnamon, cloves and others produced in the region.
"The government is emphasising need for producers, processors and entrepreneurs in spaces improve quality and productivity so that their products fetch more revenues from the market," he said.
He said by producing products of high quality that meet required standards may easily penetrate both local, regional and global markets.
"Through the training, participants were given skills on both health and environmental regulations as well as the need to register food and cosmetic premises," he noted.
He said the obligations of registering food and cosmetic premises currently under TBS were under the former Tanzania Food and Drugs Authority (TFDA).
He said reaching and training producers, processors and entrepreneurs in spices is one of the maior obligation of the Bureau aiming at raising the quality of products to meet domestic global standards.
He added that sometimes, stakeholders including entrepreneurs do make requests from TBS to train them on various issues related to quality and standards that would ultimately increase the value of the products and boost their earnings.
"It is our obligations to conduct such trainings to various groups including producers and business people and sometimes we are being invited to partipate in exhibitions like Sabasaba and Nanenane fairs," he said.
He added, at times institutions like Small Industries Development Organisation (SIDO) and Tanzania Trade and Development Authority (TanTrade) to conduct training to entrepreneurs.


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7 p.m., March 1)
Swedish clothing retailer H&M coming to Place d'Orléans
By Fred Sherwin
Target, and now H&M. The popular Swedish-based clothing
retailer recently announced plans to open a new store
in Place d'Orléans next fall, raising hope among
existing tennants that the move will result in an increase
to market analysts, the east end mall has been losing
market share to other malls on Ottawa such as the St,
Laurent Shopping Centre and even Bayshore, as well as
the commercial corridor along Innes Road.
arrival of Target has had a limited impact on traffic
since it opened last year and the arrival of H&M in
the fall of 2014 should build on that.
bigger question is whether Primeris, the company which
owns Place d'Orléans, will invest in a future expansion.
Bayshore (Ivanhoe Cambridge) and the Rideau Centre (Cadillac
Fairview) are already undergoing massive expansionsk while
plans are in the works to expand the St. Laurent Shopping
Cente, which is owned by Morguard, from 82,500 sq. m.
to 170,000 sq. m.
d'Orléans, with over 180 stores, is currently the
second largest shopping mall in Ottawa behind St. Laurent,
which has 195 stores. The Rideau Centre has 171 stores,
while Bayshore has 155 retail tennants.
numbers will soon change, however, with the completion
of Bayshore's 300,000 sq. ft. expansion later this year
and the Rideau Centre's major expansion project in 2015.
plans for the St. Laurent Shopping Centre would see the
construction of an additional 330,000 sq. ft. of retail
space to coincide with the opening of the Ottawa LRT system
story was made possible thanks to their generous support
of our local business
www.orleansonline.ca's main page


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Samsung Electronics Australia vice president of IT and mobile, Richard Fink, has stepped down.
Fink will depart the business on 21 July and relocate to Melbourne and pursue new opportunities, the company said.
“It has been a privilege working for Samsung Australia. The company continues to lead the way in innovation, and I have been fortunate to work with talented people to provide great products and services to all Australians. I believe Samsung Australia is set-up well for future success,” Fink said.
Fink joined Samsung in August 2016, replacing Prasad Gokhale who led the IT and mobile business for three years.
"We’re grateful to Richard for his contribution to Samsung and his leadership across our multiple channels and product lines," Samsung Electronics Australia president, Harry Lee, said.
“Richard’s drive for the consumer experience has resonated across the business and will ensure that Samsung continues to be a leader in this area in Australia by providing our customers with a seamless experience across all contact points. We wish Richard and his family all the best for the future."
Fink’s experience includes 13 years in telecommunications - he worked for Telstra in executive positions across marketing, category management, supply chain and retail operations.
Before joining Samsung, he was head of store transformation at Coles, a position he was in for about a year.
Fink’s responsibilities included the financial performance of the IT and mobile division. He was also responsible for the development and execution of customer strategy across consumer, business and enterprise segments.
At the time of his appointment, Lee, said: “Today’s competitive smartphone market requires innovative thinking and I believe Richard’s depth of experience and leadership qualities will add another dimension to our business to deliver ongoing success.”
In May, Samsung revealed that corporate vice president and chief marketing officer, Philip Newton, would depart the business on 9 August, after resigning from Samsung Australia following eight years with the company to pursue new opportunities.


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On May 30, Amazon stock topped $1,000. This got some media attention as will another nice round number: $2,000 a share -- which I think its stock will hit in 2019 if it keeps going up at 40% a year. (I have no financial interest in the securities mentioned in this post).
Are you going to wring your hands and worry about how its shares are over-valued at a forward Price/Earnings ratio of 65 or will you throw in the towel and buy because you suspect Amazon will keep growing revenues faster than the 20% that most investors expect?
If you can find a better CEO on this planet -- or any other -- you can invest in her. But until then, nobody beats Bezos. As I pointed out in Disciplined Growth Strategies, companies that sustain 20% or higher growth after they hit $10 billion in revenue share four traits -- which Bezos brings to life:
- He's a founder who propels his public company -- something he's been doing for two decades;
- He leads enormous markets by giving consumers a better deal;
- He attracts and motivates the most talented people in the world through his vision, charisma, and ability to execute; and
- He keeps investing in growth opportunities -- learning from failures and expanding where he finds success.
Here's why each of these factors lead me to believe Amazon will be able to sustain its 40% annual stock price growth.
I have little to add to all the hagiography about Bezos whose wife drove him across country to Seattle in 1994 as he typed a business plan for an online book store.
But his success and that of other entrepreneurs -- like Bill Gates, Mark Zuckerberg, Larry Page and Sergey Brin, and Reed Hastings -- who have gone on to run successful public companies are among the handful of individuals who are ideally suited to the American economic system.
Simply put, there is no way to make more money in America than to start a company, take it public, and keep it growing at better-than-expected growth rates for decades at a time.
At the moment, Bezos leads the pack of still-operating CEOs -- FORBES estimates his net worth as of May 31 at $84.8 billion -- he is gaining ground on long-time wealthiest person Gates whose edge -- at a net worth of $88.5 billion -- could be narrowing uncomfortably.
There is a flip side to the great leader theory of capitalism -- as we saw in the case of Microsoft, it is nearly impossible to replace the great leader with one who can do as well or better.
That means investors should expect Amazon stock -- which has soared over 499,000% since its 1997 IPO -- to wit, a $1,000 investment on Amazon's first day of trading in 1997 would have been worth more than $500,000 on May 30 -- to veer off of its rapidly ascending trajectory should Bezos leave Amazon's CEO slot.
Winning in Enormous Markets
Amazon is a leader in many industries -- two of which stand out.
At roughly $395 billion, ecommerce accounted for 11.7% of the $3.4 trillion retailing market, according to the Department of Commerce. And Amazon -- with 33% of that market, according to Euromonitor -- drove about 66% of 2016's e-commerce growth.
Then there is the $30 billion cloud services market. Amazon controlled 40% of that, according to Synergy Research, after posting 55% growth and hitting $12 billion in AWS revenue in 2016 -- beating projections by $2 billion, according to Geekwire.
Amazon's lead in these markets has something to do with its ability to deliver great customer service. According to the American Customer Satisfaction Index, Amazon beats its rivals with a customer satisfaction score of 86 -- a lead it has sustained for the last 16 years.
According to AP, Amazon says, "We've had competition every day of our existence at Amazon and it's never changed our approach. We obsess over customers and the things we believe customers will always care about — low prices, vast selection, and fast delivery."
Attracting And Motivating The Right Talent For The Job
Much has been written about Amazon's tough work environment -- resulting in rapid turnover of employees who can't satisfy Bezos's high standards.
But it may be that Amazon is great at attracting and motivating two kinds of talented people -- those who fulfill customer orders and those who invent new products and services.
According to Harvard Business Review, Amazon would be imperiled if it showed its most creative engineers the door. As James Heskett wrote, "if well-paid, smart techies making things happen in AWS (Cloud computing) leave because they are treated poorly ... that is a problem.”
Yet high turnover may work for improving customer service -- especially if only the best performers survive. “Amazon’s business model is perhaps about scale, automation and efficiency. I will imagine the HR or people strategy would be geared towards attracting and retaining the employees that will help to accelerate and improve these key performance and competitive advantage factors,” noted HBR.
Betting on New Growth Opportunities
If investors knew the value in today's dollars of all the payoffs from Amazon's investments in growth, there would be no upside to holding its shares.
But the truth is that not even Bezos knows just how much Amazon is likely to exceed investor expectations in the future.
Yet that uncertainty has not stopped him from continuing to place big bets on Amazon's future. After all, Amazon has branched out from selling books online to building a gigantic infrastructure of warehouses loaded with robots, massive computer systems, and extensive delivery networks to fulfill orders for all sorts of products from toilet paper to sneakers.
Along the way it has had some big misses -- such as Amazon Fire -- and some compelling hits such as Amazon Prime and Amazon Echo that sits in consumers living rooms and takes verbal orders for more goods.
According to AP, Evercore analyst Greg Melich estimates that the average Amazon customer spends $800 a year on the site and members of its "$99-a-year Prime program spend on average 2.7 times more than others."
Amazon has also been working patiently to develop a viable grocery delivery service and it's even opening up bricks-and-mortar bookstores to the delight of irony-embracing journalists everywhere -- including at Bloomberg -- which speculates that Amazon may be using these bookstores to refine technologies that eliminate the need for cashiers and generally shave friction from the customer purchasing process.
Were these experiments to yield more successes than failures and exceed investors' expectations, Bezos's net worth could double to $170 billion by 2019. Will you miss out on that joy ride?